Closing capital can be found by preparing a statement affairs at the _____ of the year.

(a)

opening

(b)

end

(c)

centre

(d)

none of these

When a fixed amount is withdrawn in the beginning of every month the period calculated for interest on drawings is ____________

(a)

\(\frac{11}{24}\)

(b)

\(\frac{12}{24}\)

(c)

\(\frac{13}{24}\)

(d)

\(\frac{10}{24}\)

Average Capital employed Rs. 4,00,000

Net profit 2011	2,50,000
2012	1,00,00(Loss)
2013	4,50,000
N R R	10%

Goodwill at 3 years purchase of super profit will be __________

(a)

Rs. 1,80,000

(b)

Rs. 90,000

(c)

Rs. 1,50,000

(d)

Rs. 1,20,000

On admission of a new partner, increase in value of assets is debited to

(a)

Asset A/c

(b)

Profit & Loss adjustment A/c

(c)

Opening Statement of affairs

(d)

Cash A/c

Partnership is _________ on the retirement or death of a partner

(a)

Dissolved

(b)

Agreed

(c)

Retired

(d)

None of these

The public issue must be kept open for atleast

(a)

3 days

(b)

5 days

(c)

7 days

(d)

10 days

_____ needed by the company could be raised by inviting the general public to buy shares and invest in the business.

(a)

Money

(b)

Cash

(c)

Capital

(d)

None of these

Interpretation of accounts is the ____________

(a)

art and science of translating the figures

(b)

to know financial strengths and weakness of a business

(c)

to know the causes for the prevailing performance of business

(d)

all of the above

All solvency ratios are expressed in term of

(a)

Proportion

(b)

Time

(c)

Money

(d)

Percentage

Sales Rs.3,50,000, capital employed Rs.1,75,000. Then the capital turnover ratio is _____________

(a)

2 Times

(b)

3 Times

(c)

5 Times

(d)

7 Times